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Candlestick analysis

USDCAD - Bullish Bat CB (9Aug2020)Well, if you are trading for some time you won't expect the market to maintain the 45degree appreciation forever, at some point there will be a retracement. If the market break and close below the trendline, I will observe closely on the area of buy zone(blue box) if it is strong enough to hold the support for me to engaged an additional buying opportunity. I'm trading this and have 1 of my target at the daily chart bullish crab setup.(chart at the bottom)
Long
by RaynLim
DXYBe sure to go check out my last published idea on the Dollar! Okay, so Price Action broke through a huge zone but I'm not quite sure when that took place (go back and look for yaself). However, normally when price break through significant areas it has a tendency to revisit the area which was broken. I believe what we're currently witnessing with the Dollar is the retest phase. Considering a huge zone was broken, it may range for a bit once it reaches the area before taking off in it's new direction. But I will say that if price does continue to head further down then it's something waiting for it which could potentially shift it. This is the current range I'll be paying attention to since it correlates with the currency I track & trade. Let's see how this plays out.. P.S. There's a breach which indicates a precursor.
TVC:DXY
by ChrisJTradesFX
AUDUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on AUDUSD. Here as you can see, the market broke above the previous highs of .7197 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .7161. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ .7110, and my target @ .7222. So far, this looks like a typical trend continuation pattern. That being said, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
British Pound/US DollarIt's been awhile! Bias: Long-term - Bullish Short-term - Bearish Last week price broke through an important area ($1.2750 - $1.2813) that had started back on June 10, 2020. I'm anticipating bears to enter the market due to this along with last week's Daily candle closed as a 'Shooting Star" and other factors as well. Be sure to check the divergence from the Monthly (we're in a new month) then scale down to the Weekly to spot the barriers that can pose a potential threat to Price Action. There's significant movement on the H4 that I'll be paying close attention to going into this new trading week. I plan on executing once I see what I'm waiting on to form. I'll readjust in the event it doesn't play out according to my analyze. Happy Trading!
by ChrisJTradesFX
Spinning Top Reversal ? BTC/USD #btc #crypto #reversalWell , seems we have a classic spinning top candlestick on the Bitcoin 1 day chart . I recently did a chart showing the Gann Fan as well as the CME futures gap on Bitcoin near 118xx which already filled . But now we have what looks like a reversal candlestick . When a candlestick has a very small body evenly in the middle of two long wicks it's called a spinning top - and if it comes after an uptrend then it usually signals a reversal of that trend ( and that we would see some downside .) Same if it came at the end of a downtrend it would signal a reverse to the upside coming. So we look to our supports below us - 112xx ? 10500 ? Also don't forget we have a CME futures gap below us around 96xx/97xx Maybe we are going there before we see and more retrace up to this local top near 12k .
COINBASE:BTCUSD
by shimmeringpath
4
USDJPY-Weekly Market Analysis-Aug20,Wk1Overall USDJPY set up for a trend trading setup. 106.74 is an important resistance level for trend traders to observe for a shorting opportunity. 105.28 to 104.79 presents itself as a buying opportunity for counter-trend traders. If market head up to 106.74 before retracing, I will wait for candle confirmation to short as a trend trading trade, however, if the market retraces into the buy zone 105.28-104.79 before hitting the resistance level, I might head in on the counter-trend trade to long.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Aug20,Wk1GBPUSD is not seated at a region for an aggressive demand zone for buying opportunity, a bullish engulfing as a candlestick confirmation is important for this trend trading opportunity. The previous high at 1.3161 became an important resistance for observation for a counter-trend trade or sideway bounce trading opportunity. Trend Traders will be looking at that area too, which means if price head up to that region there is a stalling at that level is expected.
Long
by RaynLim